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Listings
With the M&A market for listings services heating up, eyeballs are worth a lot more than they used to be.
CoStar bought national search portal Homesnap for $250 million in November, pitting the CRE data giant against Zillow, Realtor.com and others in the residential game. CoStar also tried to buy CoreLogic and RentPath these past few months but failed in part due to scrutiny from the Federal Trade Commission.
But CoStar’s loss was Redfin’s gain: The real estate brokerage nabbed RentPath for $608 million in cash in April, expanding its presence in the rental market and bringing the millions of users on Rent.com, ApartmentGuide.com and Rentals.com under its control by 2022. Barely a week after Redfin closed on the deal, CoStar announced it was buying listings portal Homes.com for $156 million in cash.
Jakob Helbig/Getty Images
Homebuyers have flocked to the Rocky Mountains in droves since the onset of the pandemic.
Luxury real-estate sales have gone through the (ski chalet) roof in markets like Aspen, Vail, and Jackson Hole.
In 2020, a top Jackson Hole broker saw sales volume increase by more than 300% increase.
As Americans fled major cities in 2020, New York s and San Francisco s losses were the Rocky Mountains gain.
Colorado emerged last summer as a draw for wealthy Americans and rootless millennials amid the pandemic, but it s the region s elite ski towns that stand at the center of a red-hot residential market.
Steve Murray
The new company is called RTC Consulting and is the brainchild of Steve Murray, who co-founded and previously served as president of Real Trends, as well as Scott Wright, former Real Trends vice president. According to a statement, RTC Consulting is a “real estate research and management consulting firm” that will advise companies on “valuations, mergers and acquisitions, and business planning services.”
The statement goes on to tout Murray and Wright’s past experience consulting on those issues.
“In 2020, together, Murray and Wright advised on a slew of transactions including Gardner Realtors in their sale to Latter & Blum, Benchmark in its merger with United Real Estate, Virtual Properties in its merger with United Real Estate, Better Homes and Gardens Kansas City to a local investor group, Lyon Real Estate in being acquired by Windermere, and many others,” the statement notes.
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